Live Oak Bancshares CXO reports RSU grant, exercise
Live Oak Bancshares, Inc. reported that Chief Experience Officer Spencer Courtney received a grant of 6,586 Restricted Stock Units on February 9, 2026, each representing one share of Voting Common Stock.
Rhea-AI Filing Summary
Live Oak Bancshares, Inc. reported that Chief Experience Officer Spencer Courtney received a grant of 6,586 Restricted Stock Units on February 9, 2026, each representing one share of Voting Common Stock. On February 10, he exercised 1,425 RSUs, receiving an equal number of Voting Common Stock shares, and 709 shares were delivered to cover tax obligations at $41.04 per share. After these transactions, he holds 34,494 RSUs and 25,876 shares of Voting Common Stock directly, plus 153.7958 shares held indirectly through his spouse. Footnotes state that RSUs generally vest in multi-year annual installments, subject to continuous service.
Positive
- None.
Negative
- None.
Insider Trade Summary
1,425 shares exercised/converted
Exercise
9 txns
Insider
Spencer Courtney
Role
Chief Experience Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 1,425 | $0.00 | $0.00 |
| Exercise | Voting Common Stock | 1,425 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Voting Common Stock | 709 | $41.04 | $29K |
| Grant/Award | Restricted Stock Units | 6,586 | $0.00 | $0.00 |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Voting Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 34,494 contracts for 22,207 underlying shares (Direct);
Voting Common Stock — 25,876 shares (Direct);
Voting Common Stock — 153.7958 shares (Indirect, By Spouse)
Footnotes (7)
- F1. Each restricted stock unit ("RSU") represents a contingent right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock.
- F2. The RSUs vest in five equal annual installments beginning on February 9, 2027, subject to the reporting person's continuous service to the Company or a related entity on such date.
- F3. The RSUs vest in five annual installments beginning on February 10, 2026, subject to the reporting person's continuous service to the Company or a related entity on such date.
- F4. The RSUs vest in five equal annual installments beginning on February 14, 2023, subject to the reporting person's continuous service to the Company or a related entity on such date.
- F5. 2,000 of the RSUs will vest on each of February 22, 2023, 2024, 2025, and 2026, subject to the reporting person's continuous service to the Company or a related entity on such date.
- F6. The RSUs vest in five annual installments beginning on February 13, 2024, subject to the reporting person's continuous service to the Company or a related entity on such date.
- F7. The RSUs vest in five annual installments beginning on February 12, 2025, subject to the reporting person's continuous service to the Company or a related entity on such date.
Key Figures
RSU grant: 6,586 units
RSUs exercised: 1,425 units
Tax-withheld shares: 709 shares
+4 more
7 metrics
RSU grant
6,586 units
Restricted Stock Units granted on February 9, 2026 representing Voting Common Stock
RSUs exercised
1,425 units
RSUs converted into Voting Common Stock on February 10, 2026
Tax-withheld shares
709 shares
Shares delivered to satisfy tax obligations at $41.04 per share
Tax withholding price
$41.0400 per share
Per-share price on the F-code tax-withholding disposition of Voting Common Stock
Direct RSU holdings
34,494 units
Restricted Stock Units held directly after the reported transactions
Direct common stock holdings
25,876 shares
Voting Common Stock held directly after the reported transactions
Indirect spouse holdings
153.7958 shares
Voting Common Stock held indirectly through spouse as of February 9, 2026
Key Terms
Restricted Stock Units, tax-withholding disposition, Voting Common Stock, continuous service
4 terms
Restricted Stock Units financial
"Each restricted stock unit ("RSU") represents a contingent right to receive one share"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
tax-withholding disposition financial
"transaction_action": "tax-withholding disposition""
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
Voting Common Stock financial
"underlying_security_title": "Voting Common Stock""
continuous service financial
"subject to the reporting person's continuous service to the Company"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
AI-generated analysis. How Rhea-AI works. Not financial advice.
